Buying a second property may be a dream come true to many but, in Singapore, it also means having to pay the hefty Additional Buyer’s Stamp Duty (ABSD). The ABSD for Singapore Citizens buying a second property is 20% of the purchase price (up from the previous 17%), or the current market value of the property, whichever is higher. It is 30% for Singapore Permanent Residents and 60% for foreigners. You can go here for the breakdown of the new ABSD rates. The property tax was introduced by the government to cool a heated market, similar to other property cooling measures such as the Seller Stamp Duty (SSD) and Total Debt Servicing Ratio (TDSR). However, many married couples in Singapore have found a way to buy a second home without having to pay the ABSD – in a process called decoupling. What is decoupling? Joint homeowners can “decouple” when one co-owner transfers his/her share to the other,...